Good morning, Quartz readers!
What to watch for today and over the weekend
Theresa May gives a big Brexit speech in Florence, Italy. Ahead of the next round of UK-EU talks on Monday, the UK prime minister is expected to offer a €20 billion ($24 billion) payment to the EU in exchange for access to the bloc’s single market during the transition period after Britain leaves in 2019.
Angela Merkel eyes her fourth term as German chancellor. Merkel’s Christian Democratic Union (CDU) has a healthy lead over nearest rival the Social Democrats. The real battle is for third place in Sunday’s election, so check out which of the smaller parties will have a chance at forming a coalition government with the CDU.
New Zealand picks a new prime minister. Rising star Jacinda Ardern, the newly anointed leader of the opposition Labour party, faces off against current leader Bill English’s Nationals in elections on Saturday. Key issues include immigration, house prices, and the environment.
Emmanuel Macron introduces his controversial labor reforms. The French president’s attempt to improve the country’s competitiveness and lower unemployment is expected to become law after he presents them to the cabinet today. French Unions protested against the measures yesterday, but turnout has weakened.
While you were sleeping
North Korea threatened to test an H-bomb… North Korea’s foreign minister Ri Yong-ho warned that Pyongyang could detonate a hydrogen bomb over the Pacific Ocean. Ri, who this week described Trump’s threats against his country as a “dog’s bark,” added that “we have no idea” what countermeasures will be taken and that Kim would decide.
… and “Rocket Man” hit back at Donald Trump. The war of words continued between the US and North Korea, with Kim Jong-un calling Trump a “mentally deranged US dotard”—another translation for the Korean term he used is “old beast lunatic.” Hostility between the two countries escalated further after Trump slapped new sanctions on Pyongyang on Thursday.
L’Oréal shares jumped 5% after the death of Liliane Bettencourt. The death on Thursday of the 94-year-old billionaire, who had the largest stake in the French cosmetics giant, led to speculation that Nestlé could buy L’Oréal outright. Both L’Oréal and Nestlé, which owns around 23%, had agreed not to increase their stakes during Bettencourt’s lifetime.
Steve Bannon made a secret trip to Beijing last week. The former White House advisor, who frequently slammed China, met with Wang Qishan, the Communist Party’s second-most powerful official, said the Financial Times (paywall). The meeting was reportedly instigated by Beijing, which wanted to hear more about Bannon’s views on economic nationalism and populism.
Hewlett Packard Enterprise plans to cut jobs by about 10%. Staffing cuts, amounting to about 5,000 people, will take place before the end of the year, Bloomberg reported. CEO Meg Whitman flagged earlier that she wanted to make the company “simpler, nimbler, and faster.”
Quartz obsession interlude
Echo Huang on the abandoned Tibetan mastiffs roaming China. “The craze for the furry dogs rose and fell with the Chinese economy’s trajectory. Around a decade ago, when China’s economy was rapidly growing, owning a Tibetan mastiff was a symbol of stature and wealth… In 2009, a woman in Xian bought a Tibetan mastiff for 4 million yuan, and welcomed the dog’s delivery with a 30-car motorcade at the airport.” Read more here.
Matters of debate
America needs Amazon more than vice versa. The competition is fierce to woo the company’s second HQ.
2017 is full of jerks. A Stanford professor points to technology and fatigue as primary factors—and he uses a much stronger word than “jerks.”
Academic arguments backing colonialism are making a comeback. The thinking is that, on balance, colonialism seems like a fairly benevolent part of human history.
Surprising discoveries
A prehistoric frog may have eaten dinosaurs. Madagascar’s Beelzebufo ampinga (aka the “devil frog”) weighed up to 10 lbs (4.5 kg) and may have chomped on crocodiles.
A French chef asked Michelin to strip his restaurant of its three stars. Sébastien Bras of Le Suquet is weary of the constant pressure to perform.
Only 2% of Puerto Rico’s power comes from renewable sources. After hurricanes Irma and Maria hit, the island is now totally in the dark.
Spiders have adorable paws with claws. The furry appendages are also capable of detecting wind currents and odors.
Iran’s president trolled Trump with poetry. To refute the US president’s accusations, Hassan Rouhani cited Persian literary masters from the 12th and 13th centuries.
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